The majority owners of Idaho's Tamarack Resort say they have filed for bankruptcy protection to avoid foreclosure by a financial lender, according to the Idaho Statesman. Jean Pierre Boespflug, CEO of the McCall-area ski and golf resort, says it's a necessary step to protect assets from Credit Suisse, which is owed more than $262 million from resort construction loans.

He also says the Chapter 11 filing came after a new $118 million loan fell apart because of banking scandals in France.

Still, Boespflug says it will be business as usual at the resort. His company owns 27 percent of the resort, while another company, owned by Tamarack founder Alfredo Miguel Afif, owns 48 percent. Each filed bankruptcy papers in federal court in Boise Tuesday.

An "extraordinarily difficult financing environment" has delayed the resort's construction plans, Boespflug said in a prepared statement.

Jessica Flynn, Tamarack's communications manager, said the resort is enjoying its best season since opening in December 2004. Snow has been in plentiful supply and ski areas around the West are having a banner winter.

"We don't give out skier numbers, but the numbers have far exceeded previous years," she told the Idaho Statesman.

Even though the two largest investors in have filed for bankruptcy protection, the McCall-area resort is too well established to be in danger of disappearing, a ski industry expert said. "We need to keep in mind that the resort isn't going to go away," said Michael Berry, president of the National Ski Areas Association. "There will be new financing and possibly new partners, and a decade down the road, it will be a minor footnote in Tamarack's history. There is still money out there looking for an opportunity."

Ron Lundquist, general manager of the Ashley Inn in Cascade (the most upscale property in the area outside the resort), said many of the financing problems were beyond Tamarack's control. "I believe and I think my peers in the community believe the company is getting its arms around it and moving ahead," he said. "Jean-Pierre has always done what he said he would in the past, and I believe the same is going to hold true here."

Keep reading to see a blog post published here Feb. 14 on Tamarack.

Tamarack Resort

The scoop: In its fourth winter season, Tamarack Resort has come a long way but still needs one more year before the first phase of its base village is complete. However, that shouldn't stop anyone from skiing at America's first new winter and summer mountain resort to be built in a quarter-century. Tamarack has all the amenities and services of a top-notch resort, even though the bulldozers are still rumbling and the carpenters are pounding away. Just watching the resort grow before your eyes is entertaining, too.

Location: In Idaho's West Mountains above Cascade Lake, 105 miles north of Boise

Get there: Fly to Boise and rent a car, or make the eight-hour drive from Portland.

Essentials: Many village amenities in Discovery Square are still in temporary buildings, though once inside they don't feel temporary. Behind them, the village grows, including a Fairmont chain hotel (due in 2010). Dining on the ski runs is still out of a temporary yurt while a gorgeously located mid-mountain restaurant is under construction. New this year is an Olympic-caliber halfpipe with 22-foot-high sides, 5,000 acres of easy-to-access backcountry ski terrain and snowmobile guide service with riding on 350 miles of groomed trails.
Downhill: Seven lifts, including three high-speed quads; 7,700-foot top elevation, with a 2,800-foot drop; 1,100 skiable acres; skiers limited to 2,000 per day

Nordic: 25 kilometers groomed

Tickets: $59 for an adults; $15 Nordic

Lodging: The 41-room Lodge at Osprey Meadows serves overnight guests at the slopes. The lodge's Morels Restaurant and the Terrace Bar and Grill keep them fed and entertained. The resort has another 100 units in a rental pool among private homes, cottages and condos, all very upscale. For lodging options in the closest towns (Donnelly, eight miles; McCall, 20 miles), check with the statewide lodging referral service at 800-844-3246 or log on to www.inidaho.com.

Fairmont Tamarack, Idaho's first resort property designed with five-star luxury, services and amenities in mind, is readying to break ground

Fairmont Tamarack, an ultra-luxurious resort and vacation home development at Tamarack Resort, is preparing to break ground in 2008. Located in Idaho's Payette River Mountains, Tamarack features a landscape of mountain, meadow and lake that afford limitless recreation opportunities all in close proximity.

The new Fairmont Tamarack will soon introduce an unprecedented level of luxury, services and amenities at this fast growing all-season resort. Fairmont Tamarack is a unique joint venture by some of the most recognized and distinguished names in hospitality and development, as well as former tennis champions Andre Agassi and Stefanie Graf through their company Agassi Graf Development. The pair was first drawn to Tamarack's all-season outdoor lifestyle and natural beauty, and soon after developed the vision of creating a luxurious getaway retreat. To fulfill this they joined with Echo Partners, LLC and Fairmont Hotels & Resorts, a luxury global hospitality leader with more than 50 distinctive properties in its collection including The Fairmont San Francisco, The Fairmont Banff Springs and London's Savoy.

In 2007 Fairmont Tamarack quickly became one of the most sought after ultra-luxury vacation home retreats when 125 full ownership properties garnered $140 million in sales in just seven hours. Affluent buyers from around the US -- including notable celebrities Eric Dane of Grey's Anatomy, Jason Lewis of Sex and the City, and Arizona Cardinal Quarterback Matt Leinart -- were drawn to the prospect of an intimate vacation residence set amidst a spectacular mountain backdrop.

The property's 305 luxury hotel-condominiums and residences will feature scenic views of the mountains, a Robert Trent Jones, Jr. golf course and Lake Cascade, all of which are within walking distance.

Homeowners at Fairmont Tamarack will also encounter an exceptional collection of exclusive five-star services. A private snow-front lounge with ski concierge will enable owners and guests to get on the slopes with ease. Here, equipment is held or rented, lift tickets secured, and lessons organized. Other amenities include a kids' entertainment center, salon services, complimentary overnight shoeshine, airline reservation services, on site car rental and a 24-hour concierge.

In just its fourth year, Tamarack benefits from being one of the most extensively master-planned destinations anywhere, incorporating the best elements from a wide variety of world-class resorts.

The Mountain at Tamarack boasts an average snowfall of more than 300 inches and 1,100 acres of ski and snowboarding trails with a 2,800-foot vertical drop from the 7,700-foot peak down to the 4,900-foot base. Despite its appeal, the mountain is limited to just 2,000 skiers and snowboarders per day, affording skiers and boarders wide open slopes and lending Tamarack a distinctly intimate feel.

Summertime brings homeowners a nearly endless and diverse array of outdoor recreation options. Golfers can fulfill their passion at Osprey Meadows, a scenic Robert Trent Jones, Jr., 18-hole signature golf course named "America's Best New Public Course $75 and over" by Golf Digest in January 2007. The resort's extensive mountain bike park and hiking trail network provide forays into the vast Payette River Mountains, while Tamarack's Zipline provides a tour of the resort from a distinctly unique perspective. Other nearby activities include exploring the Frank Church Wilderness or kayaking, rafting, fishing and sailing on Lake Cascade.

Properties are currently available for purchase with prices starting in the $700,000's. Visit www.fairmonttamarack.com or call 888-893-1526 for information.